TSX:AQ
www.africanqueenmines.com
African Queen Mines was spun out from Pan African Mining Corp. (A company hold mining licences in Africa and Madagascar) after it was sold to a large Thai mining company.
African Queen Mines was spun out from Pan African Mining Corp. (A company hold mining licences in Africa and Madagascar) after it was sold to a large Thai mining company.
African Queen Mines assets include the African continent properties originally owned by Pan African Mining Corp. That is the Botswana and Namibia diamond project and the Mozambique gold project.
In 2008 African Queen Mines started trading, from this time they acquired 3 new gold projects and are currently working to identify there potential.
Projects.
Mozambique
Projects.
Mozambique
The King Solomon project in Mozambique is attracting a lot of attention from the majors! From the first round of drilling results show an average of between 1 - 2% copper and 1 - 1.63 gpt gold.
The thing that makes this project unique, is the fact that it covers a large area and includes 4 identified structures, each zone is about 4km by 2km giving strong extensive surface gold anomalies. It appears different geological event produced these anomalies,two showing high gold content and the others are more copper and poly-metallic. Any one of these is currently a target to build a mine assuming the continuity and grade that early results show
The model of operation is to develop these properties to a point where either one, some or all of these properties are to be sold to majors, so as for Pan African Mines a generated profit is returned to the shareholder (Just ask Pan African share holders if they are happy)
The Noyem gold project, has a historic resource of just over 1million oz of just over 6gpt stuff. This is current near surface mineralisation. This project has some political issues currently, but talks are ongoing with the local community concerning mining rights. African Queen are speaking to local chiefs to get over these problems.
On the border bordering Tanzanians north western corner near the lake Victoria green-stone belt (host to some very big mines). African Queen have entered into a joint venture with a Kenyan company to develop the Kanango Goldfields. African Queen are currently planning a diamond drill program and have filed applications for 4000 square km of ground where this trend is though to extend.
Currently found all the right signs including circular anomalies, but nothing found as of yet. The team of geologist include some of the best in there field, despite this African Queen see this project very much as the icing on the cake. Mind you I don’t like cake without icing...
So African Queen have two projects with potential to host world class deposits in active development, proven success in developing and selling well defined economic deposits. They have good access to capital and are progressing at a fast past towards some good resources.
So African Queen have two projects with potential to host world class deposits in active development, proven success in developing and selling well defined economic deposits. They have good access to capital and are progressing at a fast past towards some good resources.
As Always DYOR
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